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Retirees see homes grow £45bn in value: Key

Data from Key shows that over-65s who own their own homes saw the value of their properties rise by £45.7bn in the year to May, bringing the total to £1.1tn.

For the average retired homeowner this equated to prospective gains of £812 per month.

Those living in the East Midlands topped the table, with the average yearly change in value of equity coming in at plus £14,003. The West Midlands followed this at £12,029, and then Scotland, at £11,865.

The firm has been collating this data since 2010, in which time it has recorded growth of £320bn – 41 per cent.

Key chief product officer Dean Mirfin says: “Whatever the short-term changes in house prices, many over-65s have considerable property wealth which can make a huge contribution not only to their standard of living in retirement but also the financial wellbeing of family members.”

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